Crypto market massacre sees $78 billion in outflows: CryptoSlate Daily wMarket Update

The cryptocurrency market cap saw net outflows of $77.63 billion over the last 24 hours and currently stands at $917.63 billion — down 7.8% from $995.26 billion.

Over the reporting period, Bitcoin and Ethereum’s market cap fell 8.9% and 10% to $381.71 billion and $169.6 billion, respectively.

The top 10 crypto assets recorded losses over the last 24 hours. The biggest losers were Solana, down 11.9%, and Dogecoin, which fell 11%. Cardano fared best, limiting its losses to 4.6% amid the market carnage.

In the last 24 hours, the market caps of Tether (USDT) and USD Coin (USDC) increased to $71.76 billion and $43.51 billion, respectively. Meanwhile, Binance USD (BUSD) stayed flat at $8.4 billion.

Bitcoin

In the last 24 hours, Bitcoin decreased 8.9% to trade at $19,729 as of 07:00 ET. Its market dominance decreased to 41.6% from 42.1%.

Over the reporting period, BTC peaked at $21,825 before trickling downwards to find support at $20,050. A muted bounce topped out at $20,500, leading into a gradual downtrend, losing $20,000 in the process.

Ethereum

Over the last 24 hours, Ethereum fell 10% to trade at $1,383 as of 07:00 ET. Its market dominance fell to 18.5% from 18.9%.

ETH’s price performance mirrored that of Bitcoin. A peak of $1,546 was followed by a sharp sell-off that found support at $1,408. The ensuing bounce topped at $1,449, turning into a gradual downtrend that printed a local bottom at $1,370.

Top 5 Gainers

GensoKishi Metaverse

MV is the day’s biggest gainer, rising 8.7% over the reporting period to $0.12979 as of press time. The project recently launched a program to reward creators. Its market cap stood at $221.85 million.

aelf

ELF jumped 6.3% to $0.29471. aelf extended its mainnet token swap to June. Its market cap stood at $171.36 million.

Hashflow

HFT increased 2.8% in the last 24 hours to trade at $0.60829 as of press time. Its market cap stood at $115.46 million.

Radio Caca

RACA gained 2.1% in the last 24 hours to trade at $0.00038. The token fell 15.4% over the past week. Its market cap stood at $120.96 million.

Kava

KAVA is up 0.9% to $0.87093 as of press time. The project announced a $750 million developer incentive fund recently. Its market cap stood at $380.58 million.

Top 5 Losers

FLOKI

FLOKI is the day’s biggest loser, falling 25.3% to trade at $0.00003 at the time of writing. The token was recently listed on the WazirX exchange. Its market cap stood at $242.49 million.